Russian billionaire paid $ 25,5 million in collateral to avoid IRS arrest

TCS Group Holding, the main company of Tinkoff Bank, confirmed information about the issuance of an arrest warrant for the group’s main shareholder Oleg Tinkov and his release on bail in London as part of a case initiated by the US Internal Revenue Service (IRS). Writes about this with the BBC.

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This is stated in the group’s message, published by on the website of the London Stock Exchange. Thus, TCS Group Holding confirmed media reports.

The day before, the British tabloid Sunday Express wrote, without indicating the source of information, that the United States issued a preliminary warrant for the arrest of the Russian billionaire, after which Tinkov made a pledge for the duration of the court hearings.

The hearing, which is currently being held in London, is related to allegations of underreporting for tax reporting to the US Internal Revenue Service. Tinkoff was a U.S. citizen until 2013.

Tinkoff Bank version

“Mr Tinkov is expected to remain in London for the duration of the trial, having been released on bail following the issuance of a warrant for his detention,” TCS Group Holding further said in a statement.

“Mr. Tinkov informed us that his legal team is working to resolve this issue as quickly as possible,” the group also said in a statement.

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Last week, TCS Group Holding announced that Tinkov was participating in court hearings in London initiated by the US Tax Administration. At the same time, the group emphasized that Tinkov was participating in the hearings as a private individual and that the situation did not affect any of the group’s companies, including Tinkoff Bank, Tinkoff Insurance and Tinkoff Mobile.

The hearing will be held in London in February-April 2020, the group reported. The case concerns the resolution of tax issues, Tinkov, the statement said, was sure that the case would be resolved as quickly as possible.

Tinkoff Bank is among the top 20 Russian banks in terms of assets.

Media version

The Sunday Express tabloid reported that Tinkoff had pledged £ 20 million ($ 25,5 million) at the time of the court hearings initiated by the United States Internal Revenue Service.

According to the publication, the Westminster District Court of London considered the case on February 27, after US law enforcement issued a preliminary arrest warrant for the businessman.

Until the next court hearing, Tinkov’s movements will be electronically controlled. The businessman was forbidden to leave the apartment in the London Kensington area from 19:00 to 07:00, and was also obliged to hand over his passports and report to the police three times a week, the newspaper wrote.

As ForumDaily wrote earlier:

• U.S. Internal Revenue Service (IRS) initiated court hearings regarding Oleg Tinkoff, founder, shareholder and chairman of the board of directors of Tinkoff Bank. This was announced by the main company of the bank TCS Group Holding PLC on the London Stock Exchange website.

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